MassDevelopment issues $8M bond for renovations at Glenmeadow senior housing complex in Longmeadow – MassLive.com

LONGMEADOW — Glenmeadow Inc. will use an $8 million tax-exempt bond from MassDevelopment to help finance renovations at its senior citizen housing complex on Tabor Crossing.

MassDevelopment, which serves as the state’s development finance agency and land bank, announced the bond on Tuesday. The nonprofit Glenmeadow Retirement Community includes 113 independent units and and 34 assisted living apartments.

“MassDevelopment is proud to continue our years-long partnership with Glenmeadow, Inc.,” said MassDevelopment President and CEO Dan Rivera, in a prepared release. “For generations, Glenmeadow has provided an engaging and supportive home for seniors in western Massachusetts, and we are pleased to once again support the organization as it upgrades its campus to create an improved living experience for residents.”

The project will include improvements to the apartments and common areas, including upgrades to flooring, lighting, paint, electrical, plumbing, and heating-ventilation-air conditioning systems, MassDevelopment said.

In addition, there will be replacement of equipment, windows and doors, reconfiguring of interior walls to enlarge group meeting places, redesigned unit layouts, repairing and replacing the roof, resurfacing roadways and parking areas, and sidewalk improvements, the agency said.

PeoplesBank purchased the bond which will also be used to to refinance previously issued debt, MassDevelopment said.

The state is committed to “enhancing and expanding high-quality assisted and independent living options for our senior population,” said Housing and Economic Development Secretary Mike Kennealy, who serves as chairman of MassDevelopment’s Board of Trustees.

Glenmeadow, founded in 1884 as The Springfield Home for Aged Women, and accepting men beginning in 1992, had purchased a 23-acre parcel at 24 Tabor Crossing in 1993, MassDevelopment said.

Through its “Glenmeadow at Home” program the organization also provides personal care, companionship, light housekeeping and handyman services to older adults in the region, the release said.

In 2013, MassDevelopment issued a $3 million bond to help Glenmeadow renovate its main building. The bond helped Glenmeadow in updating public and office spaces, building an additional dining venue, expanding areas for wellness activities and improving common areas, MassDevelopment said.

Glenmeadow President and CEO Anne Thomas said the partnership with MassDevelopment “once again is helping us transform our beautiful campus.”

“We are proud of our history of providing premier, individualized services for older adults, and these improvements will elevate our facilities and dramatically enhance the resident experience,” Thomas said.

Longmeadow Town Manager Lyn Simmons said Glenmeadow is one of the town’s largest employers and provides “a safe and supportive home for so many of our area seniors.”

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